Walmart is a well-known store throughout the U.S. Recently though it has been hitting a financial crisis. Walmart was founded back in 1962 by the Walton family who still owns it to this day. But will they in 15 years? The reason for this is because of competitors, financial issues, and theft.
A reason for this is competitors, such as Target, Amazon, Etsy, Temu, eBay and so much more. Amazon is the biggest competitor for every company due to the fact they sell the biggest variety of things in the world. Everything at Walmart can be found at Amazon, but people don’t want to go get it at Walmart when they can sit at home and wait for their package. Walmart has always been a popular store and constantly improving it. But more and more stores are selling things Walmart has for cheaper which is hurting them a lot.
Walmart has never had financial issues since they have always been putting in more department stores, self-checkout lanes, and so much more. But now that Walmart is losing millions of dollars because some of their stores are not reaching the minimum they need to stay open by themselves, they’re in trouble. These financial issues are caused by competitors that are like Walmart. The thing that has hurt Walmart the most is the pandemic. COVID-19 made Walmart have to spend millions to just deliver things to people’s doors. But even then they didn’t make money because they were not popular anymore when you could get groceries delivered. But maybe things will turn around now that people are starting to go out of the house and go get groceries instead of being lazy and ordering groceries.
Finally, Walmart has no more issues, right? Wrong, theft is a big factor too. You may think it’s not or it’s just a few million which they can afford to lose right? No, because of theft Walmart loses 3 billion dollars a year. Last year there were only 2,668 billionaires globally. So this means theft is a billionaire. Each person who has stolen something steals around $25. This means 120 million people steal from Walmart a year. So that’s roughly the size of America. But about 5 million children accidentally steal from Walmart so only 115 million people steal from Walmart on purpose.
These are many reasons why Walmart is doing terrible and many people don’t know this. So next time you accidentally steal something just go back and pay for it because if everyone does this the statistics would be so different. With all of this combined Walmart needs to close stores or it would be devestationall. Walmart has things you need all the time and your childhood might have been going to Walmart and hating it but if you understand the value you will want Walmart to do better in the future.
Courtesy of Walmart Courtesy of Bay news 9: put people lotting a
Front cover picture Walmart in Tampa Florida